Genway Properties LLC Acquires Multifamily Property In Queens For $1.05M

A multifamily property located at 22-21 29th Street in Queens has been involved in a closed transaction. The property spans 2,200 square feet and is owned by Genway Properties LLC, with Gene Caiafa as the landlord. The property was sold with the assistance of broker Michael Chelala. The loan for the transaction was provided by HAB Bank, with a loan amount of $1,050,000 and a 5-year fixed term at 70% loan-to-value (LTV) ratio. The price per square foot (PPSF) for this transaction was $477.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,050,000
• Address: 22-21 29th Street
• Market: Queens
• Landlord: Genway Properties LLC – Gene Caiafa
• Broker: Michael Chelala
• Loan Terms: 5 Year Fixed 70% LTV
• SF: 2,200
• PPSF: $477

The involvement of Michael Chelala, a broker representing the parties in the deal, played a crucial role in completing this transaction. The deal was made possible with the assistance of HAB Bank as the lender, providing a loan amount of $1,050,000 at a 5-year fixed term with a 70% loan-to-value (LTV) ratio. The property, located at 22-21 29th Street in Queens, offers 2,200 square feet of space and was owned by Genway Properties LLC, with Gene Caiafa serving as the landlord.